The U.S. Department of Agriculture said the nation's agricultural trade surplus is also expected to increase to $19.5 billion for fiscal year 2017, up 40 percent from $13.9 billion for fiscal year 2016.
With 13 of the top 20 container lines reporting combined losses of $2.5 billion in the first half alone, industry losses will likely range from $8 billion to $10 billion for the full year, according to Lars Jensen, CEO of SeaIntelligence Consulting.
The U.S. Department of Transportation said it is seeking to make speed limiting devices a requirement on all newly manufactured trucks with a gross vehicle rating of more than 26,000 pounds.
Registration takes less than 1 minute.
Delegates from the International Longshore and Warehouse Union voted Thursday to have the union enter into discussions with representatives of the Pacific Maritime Association to discuss a contract extension.
The Panama Canal Authority said it is confident in the process it uses to move ships through the new locks at the canal, following an accident last week that damaged the Xin Fei Zhou after it made contact with one of the walls at the Agua Clara Locks.
Chinese authorities have said that containers from certain countries shall be subject to effective anti-mosquito treatment in order to prevent the virus from spreading, which has left many shippers concerned.